Astralis ends 2024 with $4.7M loss — the organization is on the brink of closure

The management of the esports organization Astralis has published its financial report for 2024, revealing a $4.7 million loss before interest, taxes, depreciation, and amortization (EBITDA). The full document is available on the club’s official website.

The company’s revenue has significantly decreased across all of its divisions, leading to a drop in EBITDA from 147 million Danish kroner ($22.6 million) to a negative value. This decline is primarily due to the fact that Astralis is now left with only one major asset — its CS2 roster, which underperformed throughout the season. As a result, the organization became much less attractive to sponsors.

Additionally, Astralis used to earn solid revenue from revenue shares with partnered leagues like ESL and BLAST. However, starting in 2025, this revenue stream will disappear due to Valve’s decision to prohibit exclusive partnerships between tournament organizers and teams.

In a letter to investors, Astralis management noted that unless the organization finds a way to secure additional funding — either by selling part or all of the company or by issuing new shares — it may have to cease operations in the near future.

Previously, media reports indicated that Astralis investors are considering selling the club for $2–3 million.

Valve updates VRS rules — teams can only be listed in one region